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Oracle discloses $40 million stake in a new chip start-up founded by former Intel president Renee James !!

This Friday Oracle disclosed, that earlier this year it invested $40 million in a start-up founded and run by Renee James, an Oracle board member.

Ampere Computing, develops microprocessors for cloud servers. Renee James, who previously spent 28 years at Intel  launched Ampere, where she’s now taking on her former employer. She’s been an Oracle board member since 2015.

Ampere announced a financing round in April from chip design firm Arm Holdings, which is now owned by SoftBank, and Carlyle Group. Oracle was not named in the press release.

In April 2019, Oracle invested $40 million in an equity fundraising round for Ampere Computing LLC, a developer of high-performance microprocessors for cloud and edge servers. Renée J. James, an Oracle director, is the Chairman and CEO of Ampere. Oracle has appointed one director to Ampere’s board. Oracle holds less than 20% of the outstanding equity of Ampere.

Ampere uses processors based on Arm architecture, providing better energy efficiency than traditional server chips. The company doesn’t list any customers on its website.  Renee James was paid $445,062 by Oracle in 2019, primarily from stock awards, according to the proxy.

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